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- Nuheara (NUH) enters into a worldwide trademark license agreement with multinational group HP
- The agreement allows Nuheara to use certain HP trademarks on its hearing aids, personal sound amplification devices and accessories
- Nuheara will pay HP a royalty fee for products sold under the agreement, which runs until the end of 2027
- The company says it will first target the US market, before expanding into other large international markets
- NUH shares down 6.67 per cent to 1.4 cents
Medical device and consumer electronics manufacturer Nuheara (NUH) has entered into a worldwide trademark license agreement with multinational group HP.
Nuheara said the agreement, which will run to the end of 2027, allows it to use certain HP trademarks on Nuheara’s hearing aids, personal sound amplification devices and accessories.
The company will pay HP a royalty fee for products sold under the arrangement.
Nuheara said its initial target market will be the US, pending an approval from the FDA.
It then plans to expand into other large international markets.
The partnership with HP does not affect Nuheara’s sales of products under its own brand or its manufacturing of products for other third-party brands.
“This agreement marks a significant achievement for Nuheara’s growth as a medical device company,” CEO Justin Miller said.
“Leveraging the global brand of HP as a leading technology company to sell our regulated hearing devices, is a significant step in both Nuheara’s future and the de-stigmatisation of hearing aids.”
NUH shares were down 6.67 per cent to 1.4 cents at 3:58 pm AEST.
